Omaha daily bee., 1887-05-21
NOT MUCH WHEAT WANTED.
Very Little Demand in Spite Of Big
Short Interest.
THE CORN MARKET DULL.
The Provision Pit Shows a Slight
Gain in Strength-The Hog
Business Brisk General
Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, May 20.-fSpecial Telegram to
the BEE. June wheat was pegged at Ssc
to-day during the long session. The prices
fuctuated between s7Hc and Ss4c, inside
figures being touched few minutes before l
o'clock. There was very little business done
below Sc, however, and there was only
moderate trading in the option. For mar
ket In which 10000, 900 bushel short interest
has been extensively advertised il Is really
astonishing how little wheat is wanted at
this juncture The bulk of speculative bus-
ness was in the latter futures, July being the
favOrite wanted and August and December
ranking next in point of speculative poDu-
iarty. July, which four days ago sold at
discount of &c under June, approached to
within &c of the latter month at one time
this forenoon, though the difference averaged
114c most of the day. Trading IN July
was general and large. Indications
pointed to purchases of heavy individual or
clique lines. 1t was floor gossip that Calves
ton and California were again in the market
on a very large scale. A tip was given out
that before the end of the month July would
command natural premium over June, but
that the latter option would be pushed up
into line instead of June being let down, as
was the case last month. The o'clock
range was SSc for June, S65lc for July and
S1sc for August. Crop reports from the
winter wheat field are In the main encour-
aging, but advlces from the northwest indl-
cate the existence of feeling of growing
alarm among producers over the prospect.
Spring wheat is very liable TO suffer from the
hot weather, which is forcing the plant be-
thus causing spndlng growth. The hot
weather seems to have arrived ten days or
two weeks earlier than usual in the north
west
Corn was dull and steady. The movement
from the interior Is only moderate and de-
pletiOn of visible stocks is going on rapidly.
Very little Importance can yet attach to field
news concerning corn, though more or less
Of 1t Is floating around. The tone of the mar
ket to-day was one of tirmness Fluctuations
were within moderate limits and the change
Of prices to he noted Is in the direction of
improyement. June ranged at S9Hc low and
39l1 1039ssc high, resting at 39$Sc at o'clock.
The range for July was 4Oss94l &c and the l
o'clock price was 4l04l4c. There was a
smal-sized furry in oats, which carried the
price OF June from PC to 26kc and July
was OccasiOned by crop reports did not last.
The 1oclock range was 2tssc for June and
27ssc for July.
In provisions there was better showing
Improvement or give promise of any in
crease right away, but In the general market
the feeling was unquestionably more favora-
BILE for holders, who were influenced by the
to showele less desire to sell. Offerings of all
descriptions OF product, and for cash and
future delivery, were comparatively m0der,
ate under the circumstances and
though quiet trade was pervaded by
a strong tone. Prices also averaged
higher than yesterday all around,
and based on last nights closings. The ad
vance at o'clock was fully Soc on pork, 219c
on lard and 219@p5c on short ribs. June,
July and August were again favOrite futures.
The days light trading appeared to be
largely on account of scalpers
AFTERNOON SEssIoN.-Wheat was steady
June sSc, July s69sc, August sold at s4s4c.
Corn was dull but steady; June 39sGc bid,
July 41c bid, August 42c bid. Oats were
steady. Pork sold for year delivery at
$l202lS; for cash, May and June the market
was nominal. $22.75 being openly bid for
May: Lard was strong and closed at
July and $6.s7}S for August.